PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1616791
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1616791
Electric Household Appliances Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032
The Global Electric Household Appliances Market was valued at USD 563.8 billion in 2023 and is projected to grow at a CAGR of 8% between 2024 and 2032. This market is driven by factors such as technological advancements, rising disposable incomes, increasing urbanization, evolving lifestyles, and the proliferation of online retail platforms. Technological innovations are playing a crucial role in shaping the growth of the electric household appliances market. Smart technologies are enhancing convenience and efficiency by enabling appliances to be controlled remotely via smartphones or smart home systems through Wi-Fi and Bluetooth connectivity. The integration of the Internet of Things (IoT) allows users to monitor and manage their appliances from anywhere, improving the overall user experience and boosting the demand for such advanced solutions.
Urbanization and changing consumer lifestyles are also key factors driving market growth. As more people move to cities and adopt modern living standards, there is a rising demand for appliances that offer efficiency and convenience. Consumers today are seeking products that help them save time and effort, contributing to the overall growth of the market. The market is segmented by product type into large appliances, small appliances, and entertainment & information appliances.
Large appliances held the largest market share in 2023, accounting for USD 271.5 billion in revenue, and are expected to grow at a CAGR of 8.1% during the forecast period. The increasing demand for smart and energy-efficient features, combined with the rising middle class and essential nature of these appliances, is driving their dominance. Smart technology integration in large appliances has also contributed to the growth of this segment. Based on the distribution channel, the market is divided into online and offline segments.The offline segment captured around 68.4% of the total market share in 2023 and is expected to grow at a CAGR of 7.9%. Brick-and-mortar stores remain the preferred sales channel for consumers who prefer in-store experiences, including product testing, immediate customer support, and installation services. The Asia Pacific region accounted for 38.3% of the market share in 2023 and is anticipated to grow at a CAGR of 8.2%. Factors such as rapid urbanization, economic growth, and increasing disposable incomes are driving the demand for household appliances in this region.Additionally, the region serves as a major manufacturing hub, contributing to its significant market presence.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $563.8 Billion |
| Forecast Value | $1.11 Trillion |
| CAGR | 8% |
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculations
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021-2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.2 Supplier landscape
- 3.3 Profit margin analysis
- 3.4 Technological overview
- 3.5 Key news & initiatives
- 3.6 Regulatory landscape
- 3.7 Impact forces
- 3.7.1 Growth drivers
- 3.7.1.1 Technological advancements
- 3.7.1.2 Rising disposable income
- 3.7.1.3 Urbanization and changing lifestyles
- 3.7.2 Industry pitfalls & challenges
- 3.7.2.1 High initial costs
- 3.7.2.2 Intense competition
- 3.7.1 Growth drivers
- 3.8 Growth potential analysis
- 3.9 Porter's analysis
- 3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Electric Household Appliances Market Estimates & Forecast, By Product Type, 2021-2032 (USD Billion)
- 5.1 Key trends
- 5.2 Large appliances
- 5.2.1 Refrigerators
- 5.2.2 Fans
- 5.2.3 Washing machines
- 5.2.4 Air conditioners
- 5.2.5 Dishwashers
- 5.2.6 Water heaters
- 5.2.7 Microwave ovens
- 5.2.8 Cloth dryers
- 5.2.9 Others (Cooktops, Air Purifiers, Room Heaters, etc.)
- 5.3 Small appliances
- 5.3.1 Vacuum cleaners
- 5.3.2 Toasters
- 5.3.3 Coffee makers
- 5.3.4 Blenders & mixers
- 5.3.5 Irons
- 5.3.6 Hair dryers
- 5.3.7 Water filters
- 5.3.8 Others (Electric Kettles, Steamers, etc.)
- 5.4 Entertainment & Information Appliances
Chapter 6 Electric Household Appliances Market Estimates & Forecast, By Price, 2021-2032 (USD Billion)
- 6.1 Key trends
- 6.2 Low
- 6.3 Medium
- 6.4 High
Chapter 7 Electric Household Appliances Market Estimates & Forecast, By Distribution Channel, 2021-2032 (USD Billion)
- 7.1 Key trends
- 7.2 Online
- 7.3 Offline
Chapter 8 Electric Household Appliances Market Estimates & Forecast, By Region, 2021-2032 (USD Billion)
- 8.1 Key trends
- 8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.3 Europe
- 8.3.1 UK
- 8.3.2 Germany
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.3.6 Russia
- 8.3.7 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 Australia
- 8.4.6 Rest of Asia Pacific
- 8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Rest of Latin America
- 8.6 MEA
- 8.6.1 South Africa
- 8.6.2 Saudi Arabia
- 8.6.3 UAE
- 8.6.4 Rest of MEA
Chapter 9 Company Profiles
- 9.1 LG Electronics
- 9.2 Samsung Electronics
- 9.3 Electrolux AB
- 9.4 Whirlpool Corporation
- 9.5 BSH Hausgerate GmbH
- 9.6 Walton Group
- 9.7 Midea Group
- 9.8 Robert Bosch GmbH
- 9.9 Gree Electric Appliances Inc.
- 9.10 Panasonic Corporation
- 9.11 Hitachi, Ltd.
- 9.12 Haier Group Corporation
- 9.13 Sharp Corporation
- 9.14 Siemens AG
- 9.15 Miele
